CK Marketing letter requesting refund questions
Date: Wed, 11/03/2010 - 11:19
Here is what I have typed up to send to CK Marketing. If you don't mind, please review and let me know if I am missing anything. CK Marketing sent me a text message stating that if they don't speak with me in the next 5 days they will be levying my account. Should i put something in my letter concerning the fact that they say they are going to levy my account? I am yet to receive anything in writing to my PO box from them. Everything has been text message, voicemail or email. My husband and I are going in tonight to close our account and open a new one. Once we get back from the bank, I wanted to send this in an email to them:
To Whom It May Concern:
After doing research on internet payday loan laws in the state of Texas, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of Texas in general:
Texas State Information
Legal Status: Legal
Citation:
7 Tex. Admin. Code § 1.605; Tex. Fin. Code Ann. §§ 342.251 et seq. and 342.601 et seq.
Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
I have contacted the Texas Office of Financial Institutions and the Texas State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal as you are not licensed to lend to Texas residents. I was advised to pay what is due according to principle amount only of the loan.
The legal amount that could have been charged to my loan is the principal amount of $700.00 DOLLARS even if your internet pay day loan was legal in Texas. I have paid $3,245.00 DOLLARS on this loan by your debits of my bank account. To date, I have a credit balance remaining of approximately $2,545.00 DOLLARS.
I demand that any contact with me be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of Texas.
You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.
I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.
THANK YOU IN ADVANCE! YOU ALL ARE LIFE SAVERS!!
To Whom It May Concern:
After doing research on internet payday loan laws in the state of Texas, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of Texas in general:
Texas State Information
Legal Status: Legal
Citation:
7 Tex. Admin. Code § 1.605; Tex. Fin. Code Ann. §§ 342.251 et seq. and 342.601 et seq.
Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
I have contacted the Texas Office of Financial Institutions and the Texas State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal as you are not licensed to lend to Texas residents. I was advised to pay what is due according to principle amount only of the loan.
The legal amount that could have been charged to my loan is the principal amount of $700.00 DOLLARS even if your internet pay day loan was legal in Texas. I have paid $3,245.00 DOLLARS on this loan by your debits of my bank account. To date, I have a credit balance remaining of approximately $2,545.00 DOLLARS.
I demand that any contact with me be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of Texas.
You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.
I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.
THANK YOU IN ADVANCE! YOU ALL ARE LIFE SAVERS!!
You have compiled it well Stacy. Now send it and let them know y
You have compiled it well Stacy. Now send it and let them know you mean business.
The legal amount that could have been charged to my loan is the
The legal amount that could have been charged to my loan is the principal amount of $700.00 DOLLARS even if your internet pay day loan was legal in Texas. I have paid $3,245.00 DOLLARS on this loan by your debits of my bank account. To date, I have a credit balance remaining of approximately $2,545.00 DOLLARS.
Should I ad the following at the end of this paragraph:
Please send me a refund check in the amount of $2545 and a Paid In Full letter to my mailing address listed below. [COLOR=red][/COLOR]
I don't know exactly what to say when it comes to requesting the refund & paid in full notice. Should I include my mailing address on my letter?
